Shares of networking solutions provider Actelis Networks (NASDAQ:ASNS) are up in double digits today after it was selected by the U.S. Air Force to modernize the IoT (Internet of Things) networking on a major air force base.
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Now, Actelis’ hybrid fiber-copper network solutions will offer connectivity to 41 sites across the base while also providing monitoring and control for mission-critical systems. While legacy network infrastructure can be slow and susceptible to cyber-attacks, Actelis’ solutions are anticipated to save tens to hundreds of thousands of dollars for each site. The company has prowess in fast delivery of cyber-hardened infrastructure and its solutions could potentially shave off months of installation and civil work as well.
Impressively, the company has already helped modernize other air force, army, and navy bases as well and Tuvia Barlev, the chairman and CEO of Actelis commented, “We have designed our solution to anticipate future network growth which allows us to scale our unique solutions. The applications we enable are virtually limitless.”
Despite today’s price gains, Actelis shares are still down nearly 90% over the past year.
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